A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

With gold smashing through its all time record high this morning on the back of fears over a double dip recession, analysts are turning increasingly bearish on the markets. Anthony Fry, senior managing director at Evercore Partners, told CNBC that the bond markets could turn nasty over the next few months and said that the current problems created by the European debt crisis could be with us for at least five years.

“Look at the current situation. You have Greece, now you have Hungary and huge issues surrounding Spain and Portugal,” he said, warning of a “nightmare scenario” of hyper-stagflation, where inflation rises dramatically but asset prices deflate.

See complete article at InfoWars.

A new study done by Russian scientists suggests that Genetically Modified Food may cause long term sterility, that is, sterility in second and third generations. The scientists used hamsters for this research and divided them into groups. One group of hamsters was fed a normal diet without any soy products, a second group was fed non-GMO (genetically modified organism) soy, the third ate GM soy and the fourth group was fed an even higher amount of GM soy than the third.

See complete article at PSFK.

U.S. debt has hit 90 percent of gross domestic product, or GDP, the level at which economic growth traditionally begins to slow.

"What is frightening is that U.S. debt is rapidly beginning to approach the same percent of GDP that has plagued European Union countries like Greece, with the same likely results – fiscal bankruptcy that requires continued borrowing for the government to remain in business and the risk of default that demands risk premiums to be paid for the borrowing needed to pay for the ever-expanding social welfare state," WND's Jerome Corsi wrote.

See complete article at WND.

U.S. stocks slid, capping the worst May for the Dow Jones Industrial Average since 1940, while the euro slumped and Treasuries rose as a downgrade of Spain’s debt rating and escalating tensions on the Korean peninsula triggered a flight from riskier assets.

The Dow tumbled 122.36 points, or 1.2 percent, to 10,136.63 at 4 p.m. in New York and lost 7.9 percent this month. The Standard & Poor’s 500 Index sank 1.2 percent to 1,089.41, led by financial shares on the Spanish downgrade and energy companies after U.S. President Barack Obama extended a moratorium on new deep-water drilling. Oil erased gains after rallying as much as 1.6 percent to more than $75 a barrel. Ten-year Treasury yields decreased 7 basis points to 3.3 percent. The euro slipped 0.7 percent to $1.2273.

See complete article at Bloomberg